Page 39: of Maritime Reporter Magazine (June 1974)

Year-End Report

By Todd Shipyards

Todd Shipyards Corporation earned $1,014,744, or $68 per share on sales of $176,572,470 for the year ended March 31, 1974, accord- ing' to a recent statement in New

York iby John T. Gilbride, presi- dent. In the preceding' year, earn- ings were $287,624, or $.19 per share on sales of $182,098,352. Prof- it from operations of $3,327,876 be- fore income taxes and interest ex- pense of $2,313,132 compares with $1,467,160 and $1,179,536, respec- tively, for the preceding year.

According to Mr. Gilbride, ship construction and ship repair show- ed marked increases, with ship conversion work down during the year. He reported that present ship and barge construction backlog amounted to approximately $300 million, the largest peacetime back- log in the company's history, in- cluding tankers in the 25,000, 35,- 000 and 89,700-dwt classes, tug/ supply vessels, barges, towboats, ferryboats, and drillships.

Todd's plans for building ultra large crude carriers (ULCCs) and expanding its Galveston facilities are being dropped at this time be- cause the Department of Defense has denied the company's request

East Side, West Side-

All Around The Tow

East side, west side, fore, aft, port or starboard, Raytheon's newest digital

Fathometer ® depth sounder, the Mark Twain ® , provides instant depth read- out for towboat and tow and affords loading, ballasting or docking aids for larger ship applications. Depth alarm on indicator activates when any trans- ducer senses a depth less than a preset value. Optional auxiliary indicators provide remote readouts of single or multiple transducer applications. for a material priority rating for vessels of this size. Since the con- struction of each ULCC would re- quire more than 60,000 tons of steel,

Todd could not prudently proceed without such a priority. The per- sistent demand for tankers up to 100,000 dwt, which do qualify for a material priority rating, now prompts Todd to evaluate the eco- nomic feasibility of investing in al- ternative new ship construction fa- cilities at Galveston to build such vessels.

Aero-Flow Dynamics

Elects John Calicchio

Board Chairman

John Calicchio

John Calicchio, formerly presi- dent of Argo International Corpo- ration, was elected chairman of the board of Aero-Flow Dynamics, Inc. at the April 23, 1974, board meet- ing.

Aero-Flow is the parent company of Argo International, headquarter- ed in New York; The Wing Co., headquartered in Linden, N.J.;

United Sales and Warehouse Inc., headquartered in Fort Worth, Tex- as, and The Pyco Division, with headquarters in Pen del, Pa.

Argo is primarily engaged in the distribution of a broad range of mechanical and electrical compon- ents and renewal parts, pumps, compressors, and general supplies for marine and industrial use. Ar- go's Marine Division services ship- owners, operators and agents, as well as marine supply distributors, shipyards and offshore drill-rig op- erators. The Industrial Division services a broad range of markets, including chemical, petroleum, pa- per and steel.

John Calicchio and his father,

Thomas Calicchio, founded Argo in 1951, and were jointly responsi- ble for its successful growth and expansion. Since 1965, John Calic- chio has been Argo's president and chief executive officer. Argo serv- ices the marine industry through a network of 16 warehouses, sales offices and subsidiaries strategical- ly situated in major seaports in the United States, Belgium, Greece,

Italy, Norway and England. Mr.

Calicchio has been primarily re- sponsible for establishing, staffing and developing this extensive net- work over the past 10 years.

Mr. Calicchio was born and educated in the United States and resides in New York City. He is an Associate Member of The So- ciety of Naval Architects and Ma- rine Engineers and The Propeller

Club, Port of New York.

Whether it's maneuvering past tricky shoals or ensuring that a ship is proper- ly trimmed, Raytheon's DE-760 lets you know what's under your tow at all times on all sides.

Multiple transducer application on river towboat and barge.

DE-760 MASTER INDICATOR

DE-760 has two scales — 1 to 99.9 feet with a resolution of 0.1 foot, and 1 to 400 feet with a resolution of 1 foot.

RAYTHEON MARINE COMPANY 676 Island Pond Road - MR

Manchester, N. H. 03103 (603) 668-1600 DE-760 AUXILIARY INDICATOR 40 Maritime Reporter/Engineerirtg News